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Germany's Merck sees boost from labs supplies earnings

Tropical worm disease drug for pre-schoolers shown to work in Africa trial
Tropical worm disease drug for pre-schoolers shown to work in Africa trial   -   Copyright  Thomson Reuters 2021
By Reuters

FRANKFURT (Reuters) – Germany’s Merck on Wednesday said its Life Science business, a leading maker of biotech lab supplies and gear, saw core earnings jump more than 43% in the first quarter, driven by the pharma industry’s efforts to fight the coronavirus pandemic.

Adjusted earnings before interest, tax, depreciation and amortization at the division rose to 793 million euros ($961 million).

The company, which also makes pharmaceuticals and specialty chemicals, on May 4 reported better-than-expected quarterly earnings for the group ahead of schedule.

At the time it said it expected 2021 adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of 5.4-5.8 billion euros, up from 5.2 billion last year. It reaffirmed that guidance on Wednesday.

(Reporting by Ludwig Burger; Editing by Riham Alkousaa)